Background:
- Price reacted bullishly at the 20MA support and looking to break the previous swing high
- Inside candle formed within the bullish marobozu
Entry:
- Buy stop above the inside candle hammer high @ 1215.4
SL:
- Place at 50% fib level of the 1 Feb 2017 bullish candle
PT:
- Next possible horizontal resistance @ 1249.8
- Price reacted bullishly at the 20MA support and looking to break the previous swing high
- Inside candle formed within the bullish marobozu
Entry:
- Buy stop above the inside candle hammer high @ 1215.4
SL:
- Place at 50% fib level of the 1 Feb 2017 bullish candle
PT:
- Next possible horizontal resistance @ 1249.8
Trade active:
Updates - 3 Feb 2017:
- My set up was triggered yesterday with a bullish candle
- The half lengthed wick could posses a bear threat as it failed to close above the mini recent resistance @1218.45
- I will hold on to this trade and let it plays out
- My set up was triggered yesterday with a bullish candle
- The half lengthed wick could posses a bear threat as it failed to close above the mini recent resistance @1218.45
- I will hold on to this trade and let it plays out
Trade active:
Updates - 10 Feb 2017:
- Trend is bullish and yesterday price has reversed and closed a bearish dark cloud candle after testing the low of 7 Oct 2016.
- Price is now reversing downwards ... next support will be 1219 and the 10/20MA.
- Currently my profit has dropped from 280 pips to 100 pips.
- Will hold on to this trade in anticipation of bullish reaction at the said support area.
- Trend is bullish and yesterday price has reversed and closed a bearish dark cloud candle after testing the low of 7 Oct 2016.
- Price is now reversing downwards ... next support will be 1219 and the 10/20MA.
- Currently my profit has dropped from 280 pips to 100 pips.
- Will hold on to this trade in anticipation of bullish reaction at the said support area.
Trade active:
Updates - 11 Feb 2017:
- After the darkcloud pattern, yesterday price closed a bullish reversal candle pushing the price upwards
- I might consider to take profit earlier at 1241.5 in view of price approaching the significant horizontal resistance @ 1245 region
- After the darkcloud pattern, yesterday price closed a bullish reversal candle pushing the price upwards
- I might consider to take profit earlier at 1241.5 in view of price approaching the significant horizontal resistance @ 1245 region
Trade closed manually:
Updates - 18 Feb 2017:
- Trade closed manually at previous swing high @ 1242.8 to pocket the profit 1st as it is nearing the resistance zone... to avoid further risk as i cant predict the exact point where bear will start to short.
- Trade closed manually at previous swing high @ 1242.8 to pocket the profit 1st as it is nearing the resistance zone... to avoid further risk as i cant predict the exact point where bear will start to short.